Stock Market Update
12-Aug-24 11:10 ET
Inflation expectations are unchanged or lower in NY Fed survey
Dow +8.84
at 39506.38,
Nasdaq +147.56
at 16892.86,
S&P +25.95
at 5370.11
[BRIEFING.COM] The major indices trade at their best levels. The Dow Jones Industrial Average joined the S&P 500 and Nasdaq Composite in positive territory.
The New York Fed's Survey of Consumer Expectations showed that median one- and five-year-ahead inflation expectations were unchanged in July at 3.0% and 2.8%, respectively, while median three-year-ahead inflation expectations declined by 0.6 percentage point to 2.3%. This was the lowest level since the survey's inception in June 2013.
Separately, oil prices are climbing amid uncertainty about the geopolitical situation in the Middle East. WTI crude oil futures are up 2.0% to $78.34/bbl.
